Protecting Your Business in a Digital Age: The Importance of Cyber Insurance

We’re living in a new age where cyber security is becoming more of a threat than ever. There is insurance that you can purchase that would help protect your business or organization from a cyber-attack. Most of the time, it’s called cyber insurance or cyber liability insurance.

What Does Cyber Insurance Cover?

Cyber insurance is meant to protect businesses and organizations from cyber threats. This includes things such as ransomware, a data breach or hacking into your systems. What would that cost you to have to notify all of your clients? What would that do to your business? There are different levels of cyber insurance. Some of it will just cover the cost of forensic investigation, and it might cover liability claims or business interruption while you’re getting back up and going. Some might cover more.

Exclusions to Coverage

There are some exclusions to cyber insurance. You do have to maintain certain security protocols. If you know you’re vulnerable, you have to take steps to close up those vulnerabilities. It will not cover cyber-attacks if they are caused by war. Also, it wouldn’t cover any bodily injury or property damage.

Hanby Helps

We do believe cyber-attacks are one of the biggest threats that businesses face today. Hanby has options for your small business when it comes to cyber that we would love to talk to you about. You can also read more about Cyber Insurance from the Federal Trade Commission.

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